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Think About It's avatar

Nice post. I agree that by leveraging the tools the current US monetary system has, creating currency is technically a feasible way to effectively eliminate the commitments (outstanding Treasuries as you call them) and get rid of the debt ceiling debate. The questions/concerns I have about this are, 1. Would this not cause inflation if we aren't able to tax an equivalent amount of money out? (which will be politically infeasible IMO), 2. Wouldn't this drastically centralize control of investment because one entity can create money and spend it where they see fit? I get that hypothetically investment targets would be subject to voters... but that's not reality today. This feels undemocratic to me. 3.

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